St. Pete Penthouse at 400 Central Sells For More Than $5 Million
The buyers of the penthouse are residents of Illinois. They were attracted to the architecture and amenities of The Residences at 400 Central as well as the vibrant culture of downtown St. Petersburg, with restaurants, shops, galleries and events. The buyers were represented by Kevin Petelle, a global real estate advisor at the St. Petersburg office of Premier Sotheby’s International Realty.
“We are thrilled to welcome this wonderful couple into 400 Central in the heart of St. Petersburg. And I am thrilled to have them as my neighbor,” said John Catsimatidis Sr. He’s the founder of Red Apple Real Estate and principal of the development company for Residences at 400 Central. He himself will also be purchasing a penthouse residence at 400 Central. “This sale confirms that 400 Central is among the most attractive and successful new developments in the nation. Feedback from buyers has been phenomenal and our sales team has experienced incredible momentum which we expect to grow as construction continues.”
The developer recently closed on $252 million in construction financing and contractors have drilled nearly 90 steel-reinforced deep foundation pilings. Work is currently underway to prepare for the pouring more than 6,500 cubic yards of concrete, which will create the base of the foundation for the 515-foot-high residential tower.